1832 Asset Management L.P. Cuts Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

1832 Asset Management L.P. lowered its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 10.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,800 shares of the company’s stock after selling 4,200 shares during the period. 1832 Asset Management L.P.’s holdings in Neurocrine Biosciences were worth $5,075,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new position in Neurocrine Biosciences in the first quarter valued at about $26,000. RFP Financial Group LLC boosted its holdings in Neurocrine Biosciences by 346.5% in the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after acquiring an additional 96 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in Neurocrine Biosciences in the fourth quarter worth about $31,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Neurocrine Biosciences in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NBIX. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Thursday. Barclays lifted their target price on Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Wells Fargo & Company raised Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $140.00 to $170.00 in a report on Wednesday, April 24th. Oppenheimer lifted their target price on Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Finally, Morgan Stanley lifted their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.08.

Neurocrine Biosciences Stock Up 0.5 %

Shares of Neurocrine Biosciences stock traded up $0.70 on Friday, reaching $146.80. The company’s stock had a trading volume of 744,764 shares, compared to its average volume of 631,030. The company has a market capitalization of $14.77 billion, a P/E ratio of 40.44 and a beta of 0.37. Neurocrine Biosciences, Inc. has a 52-week low of $99.36 and a 52-week high of $150.39. The stock has a 50-day moving average price of $139.16 and a 200-day moving average price of $137.93.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The business had revenue of $515.30 million during the quarter, compared to analysts’ expectations of $512.21 million. Sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Gary A. Lyons sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $135.63, for a total transaction of $1,695,375.00. Following the completion of the sale, the director now directly owns 116,947 shares in the company, valued at $15,861,521.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $140.55, for a total transaction of $38,370.15. Following the completion of the sale, the insider now directly owns 7,507 shares in the company, valued at $1,055,108.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary A. Lyons sold 12,500 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $135.63, for a total value of $1,695,375.00. Following the transaction, the director now directly owns 116,947 shares in the company, valued at approximately $15,861,521.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,709 shares of company stock worth $11,009,150. 4.30% of the stock is owned by corporate insiders.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.